Petrol now costs Rs 75.10 in Delhi a litre, Rs 77.79 in Kolkata, Rs 82.94 in Mumbai, Rs 77.93 in Chennai, Rs 76.31 in Bengaluru, and Rs 79.55 in Hyderabad.

Global crude prices had been rising over fears that the sanctions by the United States on Iran, one of the biggest producers in the Middle East, could limit crude exports from the country. Brent crude oil had touched $79.47 a barrel, its highest since November 2014, following concerns that U.S. sanctions on Iran are likely to restrict export of crude from one of the biggest producers in the Middle East.

IOC Chairman Sanjiv Singh earlier told to IANS that the dynamic pricing was suspended temporarily despite a rise in global rates to avoid panic among consumers.

The NOC, however, has not increased the price of Liquefied Petroleum Gas (LPG).

He further said that the prices of the cooking gas (LPG) and civil aviation fuel have remained static at Rs 1,375 per cylinder and Rs 95 per litre respectively.

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